Virtu Financial LLC Lowers Stock Position in Futu Holdings Limited (NASDAQ:FUTU)

Virtu Financial LLC cut its holdings in Futu Holdings Limited (NASDAQ:FUTU) by 44.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 13,256 shares of the company’s stock after selling 10,590 shares during the quarter. Virtu Financial LLC’s holdings in Futu were worth $1,060,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Futu by 502.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company’s stock worth $53,444,000 after acquiring an additional 465,961 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Futu during the third quarter worth about $39,943,000. Candriam S.C.A. bought a new stake in Futu during the fourth quarter worth about $28,004,000. Hhlr Advisors LTD. boosted its stake in Futu by 46.8% during the third quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock worth $100,537,000 after acquiring an additional 335,000 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its stake in Futu by 1,325.6% during the fourth quarter. William Blair Investment Management LLC now owns 285,120 shares of the company’s stock worth $22,806,000 after acquiring an additional 265,120 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently commented on FUTU shares. JPMorgan Chase & Co. boosted their price objective on shares of Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. UBS Group boosted their price objective on shares of Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Futu has a consensus rating of “Moderate Buy” and an average price target of $121.20.

Futu Stock Down 2.5 %

Shares of NASDAQ FUTU opened at $106.36 on Monday. Futu Holdings Limited has a twelve month low of $51.80 and a twelve month high of $130.88. The firm has a market cap of $14.66 billion, a P/E ratio of 26.07, a PEG ratio of 0.79 and a beta of 0.78. The company has a 50 day moving average of $104.81 and a 200 day moving average of $93.21.

About Futu

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.